Pepe Price Prediction: PEPE Pumps 15% As This Layer-2 Alternative Closes On $25 Million
Release: 2024/11/06 17:29 Reading: 256
Pepe Price Surges, Poised for Breakout
The Pepe price has witnessed a notable 15% increase in the past 24 hours, now trading at $0.000009520. This surge is accompanied by a significant 86% increase in trading volume, reaching $2.2 billion.
Meme Coin Market Thrives
The rise in Pepe's price coincides with a 24% jump in the meme coin market capitalization, now standing at $74.4 billion. This uptick follows Bitcoin reaching a new all-time high amid speculation of Donald Trump's potential US election victory.
Other leading meme coins have also experienced substantial gains, with DOGE climbing 24.5%, SHIB rising 10.7%, and WIF surging 6.6%.
Technical Analysis
After reaching its all-time high of $0.00001717 in May, Pepe's price has been on a downtrend. However, the $0.0000080 level has provided strong support, creating a descending triangle pattern.
Pepe's price is currently poised for a breakout, as it trades within the triangle's upper boundary. The asset has risen slightly above the 50-day Simple Moving Average, indicating building momentum. A positive trajectory could push it above the 200-day SMA of $0.000009855.
The Relative Strength Index is also recovering above the 50-midline, signaling positive momentum. If the bulls succeed in driving the price above the triangle, Pepe could target $0.0000140 in the long term.
However, if the bears regain control, Pepe may fall back to the $0.0000080 support zone.
Pepe Unchained Gains Traction
Amidst the Pepe price surge, investors are turning their attention to a new alternative called Pepe Unchained ($PEPU). With over 706k subscribers, the YouTube channel 99Bitcoins believes PEPU has the potential for significant returns.
Pepe Unchained's Features
Pepe Unchained aims to free the original Pepe from Ethereum's limitations by operating on a proprietary Layer 2 blockchain. This layer offers faster transaction speeds and lower fees compared to Ethereum's Layer 1 network.
Additionally, the project is developing a portal where developers can apply for grants to build on its blockchain, fostering the creation of new dApps. Pepe Unchained also plans to integrate other meme coins into its ecosystem.
PEPU Presale Success
Pepe Unchained's presale has generated over $24.9 million in funds, indicating strong investor interest. The PEPU token is currently priced at $0.01229. Investors seeking to join the presale should act quickly, as a price increase is expected in less than 48 hours.
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